Australian superannuation funds hold $2 trillion
One third of total assets are held in SMSFs.
The latest data shows Australian superannuation funds total assets for financial year 2015/16 comprised almost $2.1 trillion, of which almost one third was held in self-managed funds.
The annual statistics were released this week by the Australian Prudential Regulation Authority (APRA).
Of total super assets, $621.7 billion (29.6%) were held in self-managed superannuation funds (SMSFs).
SMSFs allow customers greater control over where their money is invested but they have their risks too.
The most substantial proportion of assets, $1.29 trillion, were held by APRA-regulated super funds.
Exempt public sector superannuation schemes assets held $132.21 billion, while the balance of life office statutory fund assets was $53.30 billion.
The data revealed retail funds held around one quarter (26%) of the total, while industry funds held a similar, but smaller, proportion (22.2%).
APRA reported that at the conclusion of the 2015/16 financial year, there were 144 APRA-regulated licensees responsible for managing funds with more than four members. The annual rate of return for these funds in 2015/16 was 2.9%. The five-year annualised rate was 7.4% and the 10-year rate was 4.6%.
Members paid $12.58 billion in fees during 2015/16 and the average balance of these funds was $55,777.
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